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Son and daughter-in-law are looking to buy in Apex, and I happened upon an older subdivision off of 64, near Apex High School, called Knollwood. They want to find something under $250k, with 1800+ sq. ft. (I know…dreaming, right? Especially in Apex.), They want to be situated near US1/I-40 for him and near 540 for her (jobs). They don't have a whole of time, inclination, money, or know-how to take on much of a fixer-upper, so I thought this area might suit them, if they can find one where most of the hard work has been done (roof, a/c, windows, etc.) and they would then just need to paint, put down new carpet, new light fixtures, plumbing fixtures, etc. They have two children, so good schools are high on the priority list as well.
As I was driving through here, some of the homes looked great, some looked a bit sad. I searched on the forum for references to Knollwood and couldn't find any info; hence, I'm putting it out there to see if someone has knowledge of this subdivision they can share. I know Apex in general is a very desirable area to live, which drives up home values. I went online and saw a couple of listings in the Knollwood Subdivision that seemed like they would fit the budget. One, in particular, looked (at least at first glance) like it may not need much but some cosmetic work.
My questions are:
Is it a safe area?
Is the subdivision coming out of a slump or is it headed down into it?
Shepard's Vineyard is adjacent, and looks to be in much better shape, as well as more expensive, so I think that would not fit their budget criteria. Any other places near US1/I40 they should check out?
I went to Apex High School in the 2000s and had a few friends who lived in Knollwood. Unlike most of Apex (or most of the triangle) Knollwood is one of those neighborhoods where people stick around for a while. You have a lot of people who have lived there for 10, 20, even 30+ years; some people have pride in the home they've lived in for so long and have kept it in good condition and updated it; some have basically sat around for 20 years and let their house deteriorate around them.
Traffic around there will be awful around the 7:00am hour, the two lunch periods, and 2:30 when the school day ends and you will be waiting a looooong time to turn left on Laura Duncan from Knollwood.
All in alll....a nice established and relatively affordable neighborhood; same for Shepherd's Vineyard except houses in SV will be a little newer and a little more expensive.
According to Apex Police Chief John Letteney, Apex is one of the safest towns in the country.
Quote:
Is the subdivision coming out of a slump or is it headed down into it?
Older subdivisions tend to have an increasing number of run-down properties and neglected rental units. Older houses are likely to need repairs and improvements.
Knollwood has traffic problems owing to the close proximity to Apex High School.
Nichols Plaza (with Costco as an anchor store) is being built on the north side of US64, aligned with Knollwood on the south. I'd guess that would improve Knollwood property values.
Would son and DIL consider a townhome? I see new construction 1984 square feet for $227K in the Villages of Apex subdivision, quite near Knollwood. I think C-D rules prohibit posting the URL but Google will lead you to it.
Note: This is offered as a point of information. I am not a realtor and have no connection with the builder.
Just drove there the other day (I work near there). It's a nice safe area - plenty of shopping in all directions, close to highways, Eva Perry library is right there. Houses are older but it looked to me like overall people are taking care of the area. And I saw some ranches! Now I know where they're hiding!
I doubt it's going into a slump; if anything I suspect that area will become popular as its proximity to so much (it's a quick ride to Cary Parkway and Davis Drive and NC55 from there) becomes discovered. Also, Apex High is slated to undergo a renovation in a couple of years which will make it more desirable.
Lacking deep pockets and the know-how to deal with home repairs, I would suggests something built this millennium. Both of those neighborhoods tend to have long inspection reports, even when they look good at first glance. I see this situation every week with younger people going for the cheaper entry price of an older house without fully realizing the true cost of those homes. It can certainly be done, many do it, but there will be expenses and time to invest for sure. Just my .02.
Lacking deep pockets and the know-how to deal with home repairs, I would suggests something built this millennium. Both of those neighborhoods tend to have long inspection reports, even when they look good at first glance. I see this situation every week with younger people going for the cheaper entry price of an older house without fully realizing the true cost of those homes. It can certainly be done, many do it, but there will be expenses and time to invest for sure. Just my .02.
Would son and DIL consider a townhome? I see new construction 1984 square feet for $227K in the Villages of Apex subdivision, quite near Knollwood. I think C-D rules prohibit posting the URL but Google will lead you to it.
Note: This is offered as a point of information. I am not a realtor and have no connection with the builder.
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A townhouse would certainly be much lower maintenance, but I think they want a yard for the kids to go outside and play.
Lacking deep pockets and the know-how to deal with home repairs, I would suggests something built this millennium. Both of those neighborhoods tend to have long inspection reports, even when they look good at first glance. I see this situation every week with younger people going for the cheaper entry price of an older house without fully realizing the true cost of those homes. It can certainly be done, many do it, but there will be expenses and time to invest for sure. Just my .02.
... I think they want a yard for the kids to go outside and play.
The original criteria were:
- condition (not a fixer-upper)
- budget (under $250k)
- size (1800+ sq. ft).
- location (near US1/I-40 and near 540)
Now we add lot size, enough for a yard.
Nothing is wrong with making a Wish List but this one calls for compromises. Real Life confronts us with a series of trade-offs. Your children will have to decide their priorities and act accordingly.
I visited friends in Knollwood recently. It seemed like a nice collection of older homes to me. Personally, I like that vintage of house. Anything built since the 2004-2008 housing boom feels cheap to me - like there's a veneer of granite countertops and hardwood floors, but the underlying construction is flimsy, built for maximum size and minimum quality.
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